Shark Tank Pitch

The Bouqs Company Shark Tank Update

Published:

4m

Marina del Rey, CA

The Bouqs Company Shark Tank Update

Pitch Overview
NameThe Bouqs Company
Main PresentersJohn Tabis
Presenter Image
The Bouqs Company Entrepreneurs: John Tabis
Product Image
The Bouqs Company Product Image
Last Known in Business2/12/2023
Main Location

Marina del Rey, CA

Order Shown in Episode1
Final DealAll Sharks went Out

The Bouqs Company Shark Tank Pitch

John Tabis created a flower company that he feels is better executed than the competition. The Bouqs Company keeps all flower arrangements at one price of $40 and ships straight from the farm. John's co-founder, JP Montufar, has a background in biology and is currently operating the farm they are proud to say is next to a volcano.

John raised $13k from his friends and family ten months ago to start The Bouqs Company. Later John raised $1.1 million at a $5.2 million valuation. John is in the process of raising more money outside of Shark Tank. Sales since the start of the year have been $700k with projections of $1.2 million with a $250k profit by year-end. They have spent $70k on marketing. John plans to work with farms in California to meet the demand for overnight shipping.

What matters in business is cash flow. That's it.

—Kevin O'Leary

The sharks find the flower business to have nothing unique, and John's ask outrageously high. Barbara also dislikes the name. All sharks go out.

Offers

Made ByLabelSharks Part of DealSummary
CompanyOffered$258k for 3% of company
SharksOutMark CubanOut
SharksOutLori GreinerOut
SharksOutRobert HerjavecOut
SharksOutBarbara CorcoranOut
SharksOutKevin O'LearyOut
Barbara Corcoran
Barbara Corcoran

Barbara Corcoran

Out

Mark Cuban
Mark Cuban

Mark Cuban

Out

Kevin O'Leary
Kevin O'Leary

Kevin O'Leary

Out

Lori Greiner
Lori Greiner

Lori Greiner

Out

Robert Herjavec
Robert Herjavec

Robert Herjavec

Out

Updates in Shark Tank Episodes

Update SeasonUpdate Episode
No Episode Updates

The Bouqs Company After Shark Tank

John Tabis went on the Founder Hour podcast in 2022. Growing up in rural Pennsylvania gave John a respect for the outdoors. John's parents were school teachers, and he went to a good high school while playing competitive sports. John always used side projects as a creative outlet but was too risk-averse to pursue any fully. After school, John took jobs in different disciplines, such as consulting, which gave him a broad understanding of things. John felt limited in his work and knew he had to own the business to make decisions fully. John was in his early thirties and had just bought a house and had a baby with his wife.
John went on the The Wiz Bleier podcast in 2022. John and JP had met JP while at college at Notre Dame. They later reconnected and spent months doing market research. JP is from Ecuador and has industry knowledge about flower farming, while John has an overall business understanding. They didn't see a big player in the flower category and sought to become that. John assembled a team of people who met weekly to volunteer their time to build The Bouqs in hopes of future success and pay.

John had permission from his employer to work on this project. A month before launching The Bouqs, John got laid off from his day job, so he did part-time consulting and raised investment money to draw a salary from the Bouqs. John and JP only tapped into about $5k of their $13k pooled together money because they raised more and did $2 million in revenue in the first year.

In season 9, we got an update that The Bouqs raised $1.7 million after Shark Tank. Three and half years after Shark Tank, The Bouqs reached $88 million in total revenue. John got a call from Robert Herjavec, who needed flowers for his wedding. After taking a second look, Robert invested in The Bouqs.

In 2022, The Bouqs Company had 50 farms and several retail locations. In 2020 John transitioned from CEO to Board Member of The Bouqs. Once the team grew from a small group to a large one, the job became more about managing people and processes and was not fun. John was investing in other start-ups in 2022 and teaching an entrepreneurship class at UCLA Anderson.

According to crunchbase.com , as of 2023, The Bouqs has raised $88 million from investors. Their website is bouqs.com . As of 2023 they are active on their Facebook , Instagram, @thebouqsco , and Twitter, @thebouqsco .
John Tabis keeps his LinkedIn up to date as of 2023. He has a personal website, johntabis.com , and stays active on his Twitter, @JohnGTabis .

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